Residential Construction Loans
Building from the ground up requires special loan needs. NBRS provides personal service at every step. Once construction is complete, we can convert the loan to a home mortgage without a second closing, saving thousands in closing costs. A draw schedule will be established for disbursement of funds through construction.
- Summary
- Construction terms 6-12 months interest only payments
- Construction loan coverts to residential mortgage at completion
- Residential lot loans also available
- Will finance up to 80% of “as completed” appraised value
- Competitive rates
- Exceptional, personalized service
- Local decision making
- Easy application process
